Best mortgage refinance lenders in 2025

Written by

Andrew Dehan,

Edited by

Published on February 11, 2025 | 2 min read

Bankrate is always editorially independent. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . Our is to ensure everything we publish is objective, accurate and trustworthy.

Images by Getty Images; Illustration by Hunter Newton/Bankrate

Although refinance interest rates aren’t as favorable as they had been during the pandemic, refinancing might make sense today for some homeowners who want to pull out cash. We’ve made it easier for you to compare refinance offers by reviewing dozens of mortgage lenders in several key areas. Based on those benchmarks, here is our guide to the best mortgage refinance lenders in 2025.

Best mortgage refinance lenders

Lender	Credit requirements	Bankrate Score
Chase	620 for conventional loans; 680 for jumbo loans; 640 for FHA loans and VA loans	4.9
Bank of America	620 for conventional loans	4.8
Better	620 for conventional loans and VA loans; 580 for FHA loans	4.8
Navy Federal Credit Union	Undisclosed	4.8
PenFed Credit Union	650 for conventional loans; 700 for jumbo loans; 620 for FHA loans	4.8
PNC Bank	620 for conventional loans, jumbo loans and FHA loans; 640 for USDA loans	4.8
SoFi	620 for conventional loans; 600 for FHA loans and VA loans	4.8

Chase

Learn more in our Bankrate review

- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, refinancing
- Credit requirements: 620 for conventional loans; 680 for jumbo loans; 640 for FHA loans and VA loans
- Where to find: Branch locations and online
Pros

Available to borrowers in all states, with 4,700 branch locations

Existing Chase customers might receive rate discount

$5,000 closing guarantee
Cons

Bank might not be a fit for borrowers with unique credit or financial circumstances

Branches not located in all states
Chase scores well for affordability, availability and borrower experience, and we gave it the Bankrate Award for best lender for refinancing in 2025. As the biggest bank in the U.S., it offers a range of services out of thousands of branch locations, including help with refinancing your mortgage through a rate-and-term or cash-out loan. The bank also makes it easy to compare current refinance rates right on its website, without needing to log in or create an account.

Bank of America

Learn more in our Bankrate review

- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, refinancing
- Credit requirements: 620 for conventional loans
- Where to find: Branch locations and online
Pros

Offers grant programs to help low- and moderate-income buyers

Displays rates online

Awards discounts for Preferred Rewards customers
Cons

Has limited transparency around borrower requirements

Does not offer USDA loans
Bank of America scores well for affordability, availability and borrower experience. The bank’s mortgage refinancing options include rate-and-term and cash-out refinancing, and its website hosts many resources for homeowners considering a refi, including a customizable rate tool and a home value estimator.

Better

Learn more in our Bankrate review

- Availability: All U.S. states
- Loans offered: Conventional, FHA, VA, refinancing
- Credit requirements: 620 for conventional loans and VA loans; 580 for FHA loans
- Where to find: Online
Pros

Mostly online, with real-time online rates, three-minute preapprovals and hybrid closings

One Day Mortgage with approval in 24 hours for eligible borrowers

Price Guarantee matches or beats competitor offers
Cons

Branch locations in just 10 states

No USDA loans
Better scores well for affordability, availability and borrower experience. This online-only lender works with borrowers on rate-and-term, cash-out and streamline (FHA and VA) refinances, and allows you to personalize its current ref rate offers on its website. If you’re a returning customer, you won’t pay a lender fee to refinance, either.

Navy Federal Credit Union

Learn more in our Bankrate review

- Availability: All U.S. states
- Loans offered: Conventional, jumbo, VA, refinancing
- Credit requirements: Undisclosed
- Where to find: Branch locations and online
Pros

Allows up to two rate relocks

Provides rate-match guarantee or pays $1,000
Cons

Membership required

No FHA or USDA loans
Navy Federal Credit Union scores well for affordability, availability and borrower experience. It specializes in VA loans, but also offers conventional refinancing plus a rate match guarantee if you find a lower rate elsewhere. In addition, the credit union allows you to refinance into a 5/5 adjustable-rate mortgage — which can help you save money for the first five years — if you qualify.

PenFed Credit Union

Learn more in our Bankrate review

- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, refinancing
- Credit requirements: 650 for conventional loans; 700 for jumbo loans; 620 for FHA loans
- Where to find: Branch locations and online
Pros

Competitive rates

Convenience of managing banking and mortgage with one provider
Cons

No ability to customize rates online

Higher minimum credit score requirements

No USDA loans
PenFed Credit Union scores well for affordability, availability and borrower experience, and its refinance options include rate-and-term, cash-out and the VA streamline, or Interest Rate Reduction Refinance Loan (IRRRL). Notably, you won’t pay lender fees on IRRRLs.

PNC Bank

Learn more in our Bankrate review

- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, USDA, refinancing
- Credit requirements: 620 for conventional loans, jumbo loans and FHA loans; 640 for USDA loans
- Where to find: Branch locations and online
Pros

Online and in-person options to apply

Application can be tracked online

Wide availability with many loan options
Cons

Higher credit minimum on FHA loans

Limited mobile app functionality

Below-average J.D. Power rating for mortgage servicing
PNC Bank scores well for affordability, availability and borrower experience. Conveniently, you can review the bank’s current refinance rates on its website, as well as take advantage of its calculator to help you estimate potential refi savings. In addition, although you’re refinancing, you might still be eligible for the bank’s closing cost grant.

SoFi

Learn more in our Bankrate review

- Availability: All U.S. states except Hawaii and New York*
- Loans offered: Conventional, jumbo, FHA, VA, refinancing
- Credit requirements: 620 for conventional loans; 600 for FHA loans and VA loans
- Where to find: Online
*SoFi offers mortgages everywhere except Hawaii, and offers refinances everywhere except Hawaii and New York.
Pros

Close on time or receive up to $10,000 to cover additional costs

Option for up to $9,500 rebate if you work with a SoFi partner real estate agent
Cons

Doesn’t offer USDA loans

No branch locations (everything happens online or in the app)
SoFi scores well for affordability, availability and borrower experience, with mortgage refinance options like rate-and-term and cash-out. If you’re a SoFi member, you could get a $500 discount on refi fees, too.

How to choose the best refinance lender for you

Compare your current lender to others. You don’t need to go back to the bank or lender you initially worked with, but it could make sense to revisit if you can get a discount on refinance fees. In general, it’s best to compare refinance rates and fees from at least three lenders, considering each lender’s credit score, equity and other requirements and how those might apply to your circumstances.
Understand the fees. As you compare lenders, you might come across some that charge a flat fee for refinances. This could translate to more savings depending on how much you’re borrowing and whether there are other fees. Other lenders offer no-closing cost refinances that allow you to finance these fees with the new loan instead of paying them upfront. While this can be a nice perk if you don’t have the savings, you’ll pay a higher interest rate in exchange for it.
Be wary of the hard sell. While loan officers are required to confirm your ability to repay, some might pressure you to refinance even if it isn’t financially advantageous for you. A reputable loan officer should help you do the math and decide whether refinancing makes sense for your situation.

Additional mortgage refinance resources

To determine the best mortgage refinance lenders, Bankrate periodically evaluates more than 75 lenders for factors relating to affordability, availability and borrower experience, assigning each a Bankrate Score out of five stars. The best mortgage refinance lenders generally have a Bankrate Score of 4.8 stars or higher. Learn more about our methodology.

Written by

Andrew Dehan

Writer, Home lending

Connect with Andrew Dehan on LinkedIn

Best mortgage refinance lenders

Chase

Lender details

Pros and cons

Pros

Cons

Why we chose Chase

Bank of America

Lender details

Pros and cons

Pros

Cons

Why we chose Bank of America

Better

Lender details

Pros and cons

Pros

Cons

Why we chose Better

Navy Federal Credit Union

Lender details

Pros and cons

Pros

Cons

Why we chose Navy Federal Credit Union

PenFed Credit Union

Lender details

Pros and cons

Pros

Cons

Why we chose PenFed Credit Union

PNC Bank

Lender details

Pros and cons

Pros

Cons

Why we chose PNC Bank

SoFi

Lender details

Pros and cons

Pros

Cons

Why we chose SoFi

How to choose the best refinance lender for you

Additional mortgage refinance resources

Methodology

You may also like